Rates Revaluation – The Clock is ticking

Business Rates demands issued this month will the last which show the current Rateable Values (RV’s) of non-domestic properties. The Valuation Office Agency (VOA) are working on a new Rating List which will come into force on 1st April 2017 to show new RV’s Values that will determine the amount of rates payable for the following 5 years.

Ratepayers will receive advanced notice of their new RVs in the late summer of this year and will have the opportunity of making representations to the VOA in advance of the new Rating List coming into force. After 1st April 2017, there will be an opportunity of making appeals against the RVs the arrangements for which will depend upon the outcome of a review of the appeals process which is currently under way.

In the meantime, there are still rights to lodge appeals against existing Rateable Values. For example, if there has been a change of circumstances affecting the locality in which the property is located or the physical state of the property then an appeal can be made on the grounds of a material change of circumstances. Underwoods have been successful in obtaining reductions in Rates for businesses affected by road closures, fire damaged properties, adjacent building works and additional competition caused by the opening of new competitor public houses or hotels and new shopping centres.

Business Rates Relief is also available for partly unoccupied premises under Section 44A of the Local Government Finance Act 1988. If there are parts of premises which are unused for a limited period of time then at the discretion of the Local Authority, relief can be put in place.

Finally, many ratepayers feel aggrieved at having to pay rates on empty properties. Underwoods have been able to work with the Valuation Office Agency and Local Authorities to obtain divisions of Rating Assessments and relief following short term occupation of properties.

Further advice and information can be obtained on the VOA website (www.voa.gov.uk). The team of Rating Surveyors at Underwoods will also be happy to provide advice initially free of charge. The first points of contact would be Robert Keeves (01604 774143) or Andrew Boulter (01604 783001).

For further information please contact:

Andrew Boulter 01604 783001 email ab@underwoods.co.uk


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Rates Revaluation – The Clock is ticking

Business Rates demands issued this month will the last which show the current Rateable Values (RV’s) of non-domestic properties. The Valuation Office Agency (VOA) are working on a new Rating List which will come into force on 1st April 2017 to show new RV’s Values that will determine the amount of rates payable for the […]